Redding, California - May 28, 2024
Veterinary Practice Management Software Market to be Worth $674.5 Million by 2031
Veterinary Practice Management Software Market Size, Share, Forecast, & Trends Analysis by Delivery Mode (On-Premise, Cloud) Practice (Companion Animals, Mixed, Equine) Functionality (Billing, EMR, Scheduling, Inventory) End User - Global Forecast to 2031
Meticulous Research®– a leading global market research company, published a research report titled ‘Veterinary Practice Management Software Market Size, Share, Forecast, & Trends Analysis by Delivery Mode (On-Premise, Cloud) Practice (Companion Animals, Mixed, Equine) Functionality (Billing, EMR, Scheduling, Inventory) End User - Global Forecast to 2031.’
According to this latest publication from Meticulous Research®, the veterinary practice management software market is projected to reach $674.5 million by 2031, at a CAGR of 7.7% during the forecast period. The growth of this market is driven by key factors such as the growing pet & livestock population, the growing risk of developing chronic & infectious diseases in companion & livestock animals, the growing number of strategic partnerships resulting in product innovation and software integration, and increasing animal health expenditure & pet insurance in developed countries.
However, limited adoption among small veterinary medical practices restrains the market’s growth. Additionally, the dearth of veterinary practitioners for livestock animals poses a challenge to the market’s growth.
Veterinary Practice Management Software: Future Outlook
The veterinary practice management software market is segmented based on Delivery Mode (On-Premise and Cloud/Web-based Mode), Practice Type (Companion Animal Practices, Mixed Animal Practices, Food Producing Animal Practices, and Equine Practices), Functionality (Appointment Scheduling, Electronic Medical Records, Inventory Management, Billing and Invoicing, Other Functionalities), End User (Veterinary Hospitals, Referral & Specialty Practices, and Ambulatory Veterinary Services), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
Key Players
The key players operating in the veterinary practice management software market are IDEXX Laboratories, Inc. (U.S.), COVETRUS, INC. (U.S.), Hippo Manager Software, Inc. (U.S.), Advanced Technology Corp. (U.S.), VETport LLC. (U.S.), DaySmart Software (U.S.), AmerisourceBergen Corporation (U.S.), Animal Intelligence Software Inc. (U.S.), FirmCloud Corp. (U.S.), ClienTrax (U.S.), and ezofficesystems Ltd. (U.K.).
Based on the delivery mode, the veterinary practice management software market is segmented into on-premise model and cloud/web-based model. In 2024, the on-premise model segment is expected to account for the larger share of 58.7% of the veterinary practice management software market. The large market share of this segment can be attributed to the advantages associated with on-premise veterinary practice management software in terms of security, complete control, and lower total cost of ownership.
Based on the practice type, the veterinary practice management software market is segmented into companion animal practices, mixed animal practices, food-producing animal practices, and equine practices. In 2024, the companion animal practices segment is expected to account for the largest share of the veterinary practice management software market. The large share of this segment is mainly attributed to the rising pet population, rising awareness regarding animal health, and the growing prevalence of diseases in companion animals.
Based on the functionality, the veterinary practice management software market is segmented into appointment scheduling, electronic medical records, inventory management, billing, and invoicing, and other functionalities. In 2024, the appointment scheduling segment is expected to account for the largest share of the veterinary practice management software market. The large market share of this segment can be attributed to the increasing veterinary health awareness programs and the increasing number of pet diseases.
Based on the end user, the veterinary practice management software market is segmented into veterinary hospitals, ambulatory veterinary services, and referral & specialty practices. In 2024, the veterinary hospitals segment is expected to account for the largest share of the veterinary practice management software market. The large share of this segment is mainly attributed to the rising number of veterinary hospitals and the growing number of veterinarians.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 37.8% of the veterinary practice management software market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the rising pet ownerships, growing pet industry expenditures, rising prevalence of diseases in companion animals, and growing awareness about animal health, which are some of the major factors driving the growth of this regional segment.
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of delivery mode, practice type, functionality, end user, and region/country?
- What was the historical market size for veterinary practice management software across the globe?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, and challenges in the veterinary practice management software market?
- Who are the major players operating in the veterinary practice management software market?
- What is the competitive landscape like, and who are the market leaders in the veterinary practice management software market?
- What are the recent developments in the veterinary practice management software market?
- What strategies are adopted by the major players in the veterinary practice management software market?
- What are the geographical trends and high-growth regions/countries?
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